https://www.taxtmi.com/caselaws?id=19147 When immovable property is valued under the rent capitalisation method for wealth-tax purposes, the valuation is treated as a composite figure covering both land and building. The land component is already reflected in the capitalised rental value, so a separate addition for the reversionary value of the land would duplicate the same element. The reversionary value is therefore not includible over and above the rent capitalisation valuation, and the point is answered in favour of the assessee. en-us Tue, 12 Dec 1995 00:00:00 +0530 Wed, 04 Nov 2009 12:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19147 When immovable property is valued under the rent capitalisation method for wealth-tax purposes, the valuation is treated as a composite figure covering both land and building. The land component is already reflected in the capitalised rental value, so a separate addition for the reversionary value of the land would duplicate the same element. The reversionary value is therefore not includible over and above the rent capitalisation valuation, and the point is answered in favour of the assessee. Case-Laws Wealth-tax Tue, 12 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19147